IRS

The Structured Finance Industry Group wants Treasury and the IRS to issue a notice that a change from Libor to an alternative index would not be treated as a taxable exchange.

Borrowers and financial institutions may be feeling the strain from reduced operations at the FHA and IRS, which has suspended the release of certain income documentation during the budget impasse.

Financial services groups are calling for more funding for the Internal Revenue Service that could fix flaws in the agency's system for verifying the income of mortgage applicants.

Here's a look at what happens at five federal agencies that support the mortgage industry during a government shutdown.

Top officials at the Internal Revenue Service met with mortgage industry groups this week to discuss possible fixes to the agency’s verification system, which lenders rely on to process mortgage loans.

Mortgage lenders are bracing for big delays in the processing of mortgage applications, citing a problem with the income verification system at the Internal Revenue Service.